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southern MN | In my state you pay property taxes on real estate. We do not pay on things and stuff, only on land and buildings. (There is also a sales tax and income taxes of course on purchases and incomes.)
It seems a lot of the farm payments over the years, especially the old Direct Payment, but other payments as well, get quickly funneled into higher rent or higher land purchase prices.
These higher land values result in more property taxes being paid by farmers or farmland owners.
Yes, yes, mill rates, assessment rates, and so on its not a direct relationship, but it does add on through the process, if farm land is worth more, more taxes are collected on farmland.
Property taxes on my farm went from $21 an acre to just about $50 an acre in the past decade. I believe some of that comes from the higher farmland values due to the farm programs propping up farmland values.
Paul | |
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Farm Program
